Dechra Pharmaceuticals increases its 2016 interim dividend by 8.4%
· Trading in our first half was strong with Group revenue growth, including Genera, of 14.9% at Constant Exchange Rate (CER) (9.7% at Actual Exchange Rate (AER)) and underlying operating profit growth of 24.2% at CER (13.9% at AER).
· Excluding Genera, revenue growth was 11.1% at CER (6.4% at AER).
· Revenue growth in EU Pharmaceuticals, including Genera, was encouraging at 8.1% (CER), however it continues to be adversely impacted by exchange rate headwinds (0.9% growth at AER).
· North America's excellent momentum continues with revenue growth of 51.9% at CER (59.1% at AER).
· Zycortal®, a novel canine endocrine product for the treatment of Addison's disease, has received regulatory approvals. Two Food producing Animal Products (FAP) antibiotics, Phenocillin and Solamocta®, have also been approved in the EU.
· The integration of Genera, acquired in October 2015, is on track.
· The underlying diluted EPS increased by 17.6% at CER (7.2% at AER) to 21.99 pence per share.
· Following the Genera acquisition and the investment in the US expansion, our reported net debt is £17.8 million as at 31 December 2015 (2014: net cash £3.0 million).
· Interim dividend increased to 5.55 pence, an increase of 8.4% compared to the prior year.
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